The Reserve Bank on Wednesday allowed credit cards to be linked to the Unified Payments Interface (UPI), which will enable more people to make payments using the popular platform.
“It is proposed to allow linking of credit cards to UPI,” RBI Governor Shaktikanta Das said while announcing the regulatory measures, including the bi-monthly policy review.
He said the facility will be enabled to begin with Rupay credit cards issued by the RBI-promoted National Payments Corporation of India (NPCI) and will be made available after the system is developed.
Das said the new system is expected to provide more opportunities and convenience to customers in making payments through the UPI platform.
